Know your profit before you swing a hammer.
Fund it with none of your own money — hard money for the deal, a private/gap lender for the rest — then watch the real tradeoff: every month you hold, holding costs and your lenders’ interest eat the profit. Find the deal that truly pencils.
Pre-filled with a sample deal. Change anything.
Closing covers both sides when you pay the seller’s side too. Set the listing commission you’re covering on MLS deals — leave at 0 for off-market.
Fees you pay to acquire — a finder/acquisition fee and any wholesaler’s assignment fee. Both are costs on this deal; your gap lender can cover them too.
Recent comparable sales — usually 3. Address, sold price, and square footage. Feeds page 2 of the lender package.
Toggle each lender on or off — run hard money only, private/gap only, both, or turn both off for an all-cash buy.
Hard money (1st lien)
Many hard-money lenders charge a fee each time you pull a rehab draw. Most rehabs run 3–6 draws.
Interest is figured on the full rehab from closing — the conservative case. In practice your lender holds the rehab back and you draw it in phases (or one draw at the end), so your real interest usually runs a bit less.
Private / gap money (2nd) — no money down
Hard money funds most of purchase + rehab; your private/gap lender covers the rest — closing, fees, holding, interest — so none of your own cash goes in. Gap is interest-only.
This is the cash the deal needs. Private money can cover it — tap “Cover 100%” to set the gap on the left and bring none of your own.
Drag the gap loan below and watch the two lines move apart.
Drag your timeline below. Your profit slips a little each month — and your lenders’ cut keeps climbing.
Cash buys the most profit; leverage buys the best return on your money. The no-money-down row is how most pros actually run it. Live on the deal above.
The honest test of a flip: does it still survive when the market cools or the rehab runs over? Profit at each outcome — on your current timeline.
| Outcome | Sale price | Net profit | Margin |
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This is one tool from the full system — the same spreadsheets I use to underwrite fix & flips, rentals, Airbnb, and creative-finance deals.